World Bulletin: Israel, Lithuania may sign gas deal

A two-day visit by the Israeli foreign minister to Lithuania on Wednesday could mark the beginning of an agreement by the two countries for Israel to supply gas to the Baltic country.

Lithuania, which currently imports all its natural gas from Russia, is trying to diversify its natural gas suppliers and Israel's gas fields could offer an alternative. Israel has proven natural gas reserves of 10.1 trillion cubic feet, according to U.S. Energy Information Administration. Israel started commercial production of natural gas from its Tamar field, near Haifa, in March last year.

As of next year, almost a quarter of Lithuania's total consumption will be met by Norway thanks to a liquefied natural gas (LNG) deal signed in August with Statoil and Lithuanian gas company Litgas.

The deal, valued at $1 billion, will see the Baltic country importing 0.54 billion cubic-meters (bcm) of natural gas per year.
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